Tower Bridge Advisors Adjusts Stake in Diageo plc

Tower Bridge Advisors has reduced its ownership in Diageo plc (NYSE:DEO - Free Report) by 9.8% during the fourth quarter, as reported in a recent filing with the SEC. Following the sale of 4,651 shares, the firm now holds 42,877 shares of Diageo, with a total value of approximately $5,451,000 based on its latest filing.

Other Institutional Investor Activity

Recently, various institutional investors and hedge funds have also modified their stakes in Diageo. Brooklyn Investment Group made a new investment in Diageo in the third quarter, valued at around $25,000. Eastern Bank has significantly increased its stake by 107.8% during the fourth quarter, now owning 241 shares valued at $31,000 after acquiring an additional 125 shares. Furthermore, Modus Advisors LLC and Kestra Investment Management LLC both added new positions valued at approximately $35,000 and $36,000, respectively. Additionally, Heck Capital Advisors LLC also entered a new position in the fourth quarter, valued at about $47,000. Currently, institutional investors and hedge funds own approximately 8.97% of Diageo's stock.

Analysts Update Price Targets

Several research firms have recently shared their views on Diageo shares. TD Cowen has raised their price target on Diageo from $124.00 to $129.00, assigning a "hold" rating in their report published on January 8. Jefferies Financial Group upgraded Diageo from a "hold" to a "buy" rating on December 5, and UBS Group changed their rating from "sell" to "buy" on December 11. Currently, one research analyst has rated the stock as a sell, while two have given it a hold rating, and four analysts have expressed a buy sentiment. MarketBeat data suggests that the stock overall has an average rating of "Hold" and an average price target set at $129.00.

Stock Performance and Metrics

As of the most recent trading day, shares of NYSE DEO opened at $108.83. Diageo has a market capitalization of $60.54 billion, a PE ratio of 15.89, and a P/E/G ratio of 2.39 with a beta of 0.66. The stock has reached a 12-month low of $105.72 and a high of $151.76. The averages for the last fifty and two hundred days are set at $117.39 and $125.00, respectively. Additionally, the company exhibits a quick ratio of 0.67, a current ratio of 1.60, and a debt-to-equity ratio of 1.62.

Upcoming Dividend Announcement

Diageo plc has also made an announcement regarding a semi-annual dividend, which is set to be paid on Thursday, April 24. Shareholders recorded as of Friday, February 28, will receive a dividend of $1.62 per share, reflecting a yield of 3.8%. The ex-dividend date is also February 28, and Diageo's dividend payout ratio is currently at 46.42%.

About Diageo

Diageo plc, along with its subsidiaries, specializes in the production, marketing, and sale of alcoholic beverages. The company offers a wide range of products including scotch, gin, vodka, rum, and various kinds of beer as well as flavored malt beverages.

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